Develop Business in Global Market, Sido Muncul Open Branch in Philippines and Nigeria

INDUSTRY.co.id - Jakarta - PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) is increasingly aggressively expanding its business in the global market by opening branches in the Philippines and Nigeria.

"We are still exploring to many countries by expanding the marketing area," said Director of PT Jamu and Sido Megah Industries Irwan Hidayat to press in Jakarta, Tuesday (3/4/2018).

Currently, the progress of market expansion to destination countries is still in the process of obtaining permits. "So we are still doing registration at POM (Food Drug Control) in the country there," said Irwan.

He said, in developing the market, Sido Muncul more prioritize the marketing office in many countries, not making factories abroad.

"The business scheme is more efficient and effective for this company. We are looking for distributors there, and for the marketing office, there is no need for the factory there, from Indonesia just send it," said Irwan.

Previously, Finance Director of PT Industri Jamu dan Farmasi Sido Muncul Tbk Venancia Sri Indrijati Wijono said that the export portion of SIDO's revenue is still very small at 1%. However, less than two years, Herbal and Pharmaceutical Industry Sido Muncul targets the export portion can reach 5%.

Given the financial statements of the third quarter-2017, Jamu and Pharmaceutical Industry Sido Muncul recorded net sales of Rp1, 86 trillion. This achievement decreased 1.79% compared to the sales of third quarter-2016 of Rp 1.89 trillion.

The details of the sale of PT Industri Jamu dan Farmasi Sido Muncul Tbk appeared in the third quarter of 2017, for herbal medicine and supplement products amounting to Rp 1.19 trillion or up 7.5% year on year (yoy). Food and beverage products decreased 17.12% to Rp 599.89 billion, while pharmaceutical revenues amounted to Rp 68.53 billion, up 11.55% yoy. (imq)